Earnings releases


Audited Results & Final Dividend Declaration for the year ended 31 December 2006


CASH FLOW STATEMENT


Rmillion

2006

2005

       
Operating profit 1 020   730
Net financing costs (23)   (60)
Profit on disposal of property, plant and equipment (45)   (19)
Non-cash items:      
   Depreciation 272   265
   Other non-cash items (59)   19
Tax payments (152)   (38)
Change in working capital (407)   (109)
 
 
Cash flow from operating activities 606   788
Expenditure on property, plant and equipment:      
   New (281)   (169)
   Replacement (163)   (101)
   Major plant overhaul costs capitalised (38)   (35)
Expenditure on intangible assets (3)   (4)
Growing crops disposals 7   5
Proceeds on disposal of property, plant and equipment 78   42
Investments – shares in Hippo Valley Estates (254)    
Investments – unlisted (3)   (72)
 
 
Net cash flow before dividends and financing activities (51)   454
Dividends paid (506)   (247)
 
 
Net cash flow before financing activities (557)   207
Borrowings raised/(repaid) 358   (558)
Hedges of foreign loans 19   (2)
Shares issued 106   62
 
 
Net decrease in cash and cash equivalents (74)   (291)
Balance at beginning of year 526   803
Exchange rate translation gain 57   14
 
 
Cash and cash equivalents at end of year 509   526